ISLAMABAD: Shares of Chinese defense companies surged on Monday after Pakistan announced its intention to purchase some of China’s most advanced military equipment, including the J-35 fifth-generation stealth fighter jet, Bloomberg reported.
In a report published on June 9, Bloomberg highlighted those shares of AVIC Shenyang Aircraft Company, the producer of the J-35 jets, reached their 10% daily limit in Shanghai, marking the third consecutive day of gains. The rally also boosted other defense-related stocks, including Aerospace Nanhu Electronic Information Technology Co, which rose by as much as 15%.
Pakistan revealed on social media last Friday that it plans to procure 40 J-35 stealth jets, KJ-500 airborne early warning and control aircraft, and HQ-19 ballistic missile defense systems from China. The announcement marks a significant step in deepening military cooperation between the two countries.
Chinese defense stocks have been gaining traction since last month, following Pakistan’s claim that Chinese-supplied J-10C fighter jets were involved in downing six Indian aircraft, including French-made Rafales. India has strongly downplayed these assertions.
If confirmed, the sale of the J-35 would be China’s first international export of a fifth-generation stealth fighter, which was developed by Shenyang Aircraft Corporation and made its public debut at the 2024 Zhuhai Airshow. The deal, once finalized, is expected to have major strategic and market implications for the global arms industry.
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